New car registrations remain soft in October 2023

New data from the Motor Industry Association (MIA) has revealed that new car registrations in New Zealand remained soft during October 2023, even though they have seen a steady rise from July’s low.

Approximately 12,944 new passenger cars and commercial vehicles hit the road last month, 12.2 per cent less than those registered in October 2022.

What were the top three models for October 2023?

The most registered car in October 2023 was the Toyota RAV4 with 1103 units, followed by the Ford Ranger (795 units), and the Toyota Hilux (679 units).

Who led the market in October 2023?

Leading the market for the month was Toyota with a 27.4 per cent market share, with Ford coming in second at 10.8 per cent, and Kia rounding out the top three with 8.7 per cent.

How did EVs, plug-in hybrids, and hybrids do?

The top three fully electric vehicles registered in New Zealand last month were the MG 4 (357 units), BYD Atto 3 (246 units), and the Nissan Leaf (165 units).

In the plug-in hybrid camp, the Mitsubishi Outlander reined supreme with 235 units registered, followed by its smaller Eclipse Cross sibling with 195 units, while the Kia Sorento came in third with 165 units registered.

As for hybrids, the top three models registered in October 2023 were all Toyotas, including the RAV4 (416 units), Corolla Cross (368 units), and the Yaris Cross (319 units).

What was the most popular segment?

The most popular vehicle segment in New Zealand for October 2023 was medium-sized SUVs, which had a 29.5 per cent market share, while compact SUVs came in second with 20.1 per cent. In third was the four-wheel drive and ute segment with an 11.8 per cent share.